We all know that Greybull are not long term investors, and therefore the airline is effectively up for sale.
This latest round of emergency funding has been beyond belief, and I can't see many customers wanting to lend Monarch money until they fly. Even with ATOL.
Do you never give up! I feel sure that for some unknown reason you'd be pleased to see Monarch fail!
You're right however that Greybull are venture capitalists. Their modus operandii is to buy poorly businesses, return them to health, and then sell them on at a profit ( i.e. recovering their investment plus a bit). Sometimes, such as in the case of "M" shops, they made a misjudgment, but they wouldn't still be in business if they didn't, more often than not, make the right decisions.
However, the question remains how long can Monarch remain independent. I think ultimately a sale or merger is likely!
For the reasons stated above I think that is a foregone conclusion. Question is whether that is in 2 years (unlikely) 5 years or 10 years.